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i know the speaker, as well as i, do not want to see us go to the fiscal cliff, but feel very strongly we've got to get serious here. we don't want to increase tax rates. we're not going to increase tax rates. >> warner: a white house spokesman shot back that republicans ought not to be surprised that mr. obama is sticking to his guns. and congressional democrats, like house minority leader nancy pelosi, welcomed the president's plan. >> elections have consequences. the president campaigned-- he made it very clear, he made it very clear that he was supporting a tax cut for the middle class, that he wanted the expiration of the tax cuts for the high end. and the american people know that debate, they voted for him. >> warner: still, despite all the tough talk, reporter todd zwillich of wnyc and public radio international says there's more movement behind the scenes than meets the eye. >> there does tend to be a pattern to how big negotiations like this go. the fact that they haven't reached an agreement yet doesn't mean they won't before christmas, doesn't mean they won't before new yea
i know the speaker, as well as i, do not want to see us go to the fiscal cliff, but feel very strongly we've got to get serious here. we don't want to increase tax rates. we're not going to increase tax rates. >> warner: a white house spokesman shot back that republicans ought not to be surprised that mr. obama is sticking to his guns. and congressional democrats, like house minority leader nancy pelosi, welcomed the president's plan. >> elections have consequences. the president...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...
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president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone no
president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not...
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that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the clinton tax rates and talk about the clinton economy and we should go back to the clinton tax rates. what that means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. so it's not new, and no, i don't support that. i don't think that's a great idea at all. it will slow down the economy. >> all right. the truth is when you look at economists' evaluations, it will slow down t
that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better....
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racing taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slow down the economy. it would. there's no question about it. but if the problem is that we have
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racing taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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cliff. also president obama's getting ready to speak this hour about an urgent national security issue. u.s.-led efforts to try to track down and eliminate loose nuclear weapons. that's coming up. >>> also, frightening now revelations about an al qaeda plot for a three-part terror attack on the united states embassy in iman, jordan. i'll ask the country's foreign minister for details. he's standing by live. i'm wolf blitzer. you're in "the situation room." >>> we begin this afternoon with brand-new republican offers to try to save the $2.2 trillion and avoid the so-called fiscal cliff. the across-the-board spending cuts and sharp tax increases that hit in just 29 days. let's get straight to our senior congressional correspondent dana bash. she's watching what's going on. dana, the tax rates, first of all, let's get to a major sticking point right now. there's been a counterproposal from house republicans to the white house. you have details. >> reporter: that's right. let's start exactly whe
cliff. also president obama's getting ready to speak this hour about an urgent national security issue. u.s.-led efforts to try to track down and eliminate loose nuclear weapons. that's coming up. >>> also, frightening now revelations about an al qaeda plot for a three-part terror attack on the united states embassy in iman, jordan. i'll ask the country's foreign minister for details. he's standing by live. i'm wolf blitzer. you're in "the situation room." >>> we...
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let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. i tell them dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can grow and multiply. polident is specifically designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing
let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks....
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so with 29 days to go until the fiscal cliff, what would it take to get a deal? joining me now, men on opposite sides, grover norquist, president of americans for tax reform and robert reish, former secretary of labor for president bill clinton and the author of "beyond outrage." none of the three of us are beyond outrage, grover norquist, which is why i keep having you back. the situation it seems to me as an impartial observer here is that both sides have now made fairly ludicrous offers that they know the other side is never going to accept in a million years. that does beg the question, grover, why bother, given that both sides know where they need to move, why the games? >> well, it's not clear that both sides know. the week after the election, president obama was asked do you have to have the higher rates or could we have deductions and credits and he said he was open to negotiations. three weeks later, after thanksgiving, he shows up and all of a sudden there's a line in the sand on rates that had come out of nowhere, so the president seems to be moving th
so with 29 days to go until the fiscal cliff, what would it take to get a deal? joining me now, men on opposite sides, grover norquist, president of americans for tax reform and robert reish, former secretary of labor for president bill clinton and the author of "beyond outrage." none of the three of us are beyond outrage, grover norquist, which is why i keep having you back. the situation it seems to me as an impartial observer here is that both sides have now made fairly ludicrous...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceili
he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on...
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house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> now, the republican counterproposal that we just heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make a
house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> now, the republican counterproposal that we just heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so...
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. >> if is the administration prepared too go over the fiscal cliff. >> absolutely. there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthist, remember it's only 2%. >> he did not blink. that is the treasury secretary. do they talk like that? >> it's really unique. this treasury secretary is very loyal to this president, treasury secretaries are, but he is saying essentially that the tax rates going up are essential, that the money is not essential, that the dollar figure is not essential, that the rates going up are essential, and that's just interesting. going over the cliff comes with a lot of -- a lot of things that could affect the economy and the treasury secretary knows that. bill: 10% unemployment. tax rates for everybody going higher. what are you hearing on the house side? among the house republicans, whether or not they are behind the speaker, whether they are pulling away from him, where does that stand do you believe? >> reporter: you know, there are some on the house side that have a lot of concerns ab
. >> if is the administration prepared too go over the fiscal cliff. >> absolutely. there is no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthist, remember it's only 2%. >> he did not blink. that is the treasury secretary. do they talk like that? >> it's really unique. this treasury secretary is very loyal to this president, treasury secretaries are, but he is saying essentially that the tax rates going up are essential,...
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. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> wh
. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next...
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the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment
the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the...
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mortgage rates are near record low, while rents are on the rise. >>> we are due to fall off the fiscal cliff in four weeks. tonight each side still insists the other's plan is impossible. republicans have dismissed the president's proposal as outlandish. democrats complain the gop plan is too vague. but the sticking point is the same. the president will not sign anything without a tax increase for the nation's highest earners. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> the gop counter offer calls for raising $800 billion in revenue without raising taxes. jay carney liken today to magic beans and fairy dust. >>> still counting the multibillion dollars vote that will not die. and how much the recount is costing bay area taxpayers. >> and the day after an epic evening commute meltdown, muni decides to let one group of passengers ride for free. >> and here comes flu season. why this year may or may not be different than normal. government after being toldo shut down. drakes bay oyster company >>> the owners of an
mortgage rates are near record low, while rents are on the rise. >>> we are due to fall off the fiscal cliff in four weeks. tonight each side still insists the other's plan is impossible. republicans have dismissed the president's proposal as outlandish. democrats complain the gop plan is too vague. but the sticking point is the same. the president will not sign anything without a tax increase for the nation's highest earners. >> we're going to have to see the rates on the top 2%...
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cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> mr. speaker, you did speak with the president earlier this week. can you characterize that call? did he have any kind of counteroffer? also, we understand that he just is making clear that it is -- got to be increase in rates for the wealthy or no deal. are you willing to give a little bit, maybe just not all the way to 39.6? >> it was the -- the phone call was pleasant. but it was just more of the same. the conver
cliff. instead of reforming the tax code, cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has a spending problem. not a receive knew problem. the president doesn't agree with our proposal, i believe that he's got an obligation to families and small businesses to offer a plan of his own. a plan that can pass both...
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starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt the most. here's why. >> this single issue has a seismic affect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world, not the least of which will be the level -- the fracturing of confidence i
starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people,...
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with things like the fiscal cliff coming up and a radical change in tax rates and possible future growth rates, i just think there are going to be lots of decisions that need to be made. lots of interesting decisions that aren't just m&a. corporate boards need advice on that. i'm optimistic it will be a decent year. >> we hope to visit you during that year. thank you. >> back to you, melissa. >>> news for investors out there. let's send it to mary thompson for a market flash. >> cnbc obtaining a notice that the company is raising margin requirements for apple to 60% from 30% effective at midnight tonight. one thing we want to note is cnbc has spoken to other people on the equity desk. they say they are not planning to follow the raise of margin on requirements for apple. we want to note that core clearing will issue a statement on this later. back to you. >> all right. thank you very much, mary thompson. still ahead, live coverage of president obama's remarks on the fiscal cliff before the business roundtable. can the president convince corporate america that he's got the right solution
with things like the fiscal cliff coming up and a radical change in tax rates and possible future growth rates, i just think there are going to be lots of decisions that need to be made. lots of interesting decisions that aren't just m&a. corporate boards need advice on that. i'm optimistic it will be a decent year. >> we hope to visit you during that year. thank you. >> back to you, melissa. >>> news for investors out there. let's send it to mary thompson for a market...
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of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy these ve
of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even...
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president and speaker hold a fiscal cliff call. there is a problem, the white house doesn't want to budge. >> we face no agreement that doesn't involve the rates going up on the top two percent. >> gretchen: so is it really progress or a stand still. >> steve: meanwhile the reverend behind this nativity scene. live pictures and he has a message from the federal government. merry christmas, government. you are not the real savior. the reverend joins us live this christmas season. >> brian: super storm sandy couldn't wipe out his home but something else did. >> she said to me. are you sure your house is gone. you misplace a pen and pencil but not a house. >> gretchen: how the entire house vanished."fox and friendst now. ♪ ♪ "fox and friends". >> steve: a house is something that is not easy to misplace. if you leave it there, you come back and it is there. >> gretchen: you hope that happens. we'll fill you in on the details. in the meantime what happen in a phone call. a lot can happen, right. you can get in fights and agreements
president and speaker hold a fiscal cliff call. there is a problem, the white house doesn't want to budge. >> we face no agreement that doesn't involve the rates going up on the top two percent. >> gretchen: so is it really progress or a stand still. >> steve: meanwhile the reverend behind this nativity scene. live pictures and he has a message from the federal government. merry christmas, government. you are not the real savior. the reverend joins us live this christmas...
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not that far down the road but get into 2013, get the fiscal cliff thing behind us. why? >> i think tom coburn and the president have slightly different reasons for it. but the problem with just doing tax reform when you don't have the rates going back up is that these deductions and credits that we're going to have to go after to reform, they primarily benefit people at the top. but they also benefit middle-class families. and if you just change those then what you end up doing is raising taxes on middle-class families as well. to get the same amount of revenue. in other words, if you're trying to get a revenue target, let's say $1.6 trillion which is what the president wants. you try to do that just by reforming the code, without the rates. you don't touch the rates. the only way to do it is to get the money out of the middle class. the president doesn't want to do that and most people don't want to do that. but if you let the rates go back up, you're basically halfway to your revenue target and you can get the rest of the revenue from reforms without hurting lower and
not that far down the road but get into 2013, get the fiscal cliff thing behind us. why? >> i think tom coburn and the president have slightly different reasons for it. but the problem with just doing tax reform when you don't have the rates going back up is that these deductions and credits that we're going to have to go after to reform, they primarily benefit people at the top. but they also benefit middle-class families. and if you just change those then what you end up doing is...
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Dec 7, 2012
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cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the tax cuts expiring at the end of the year and the question is do we have to go over that cliff before a deal can be struck or not. >> we asked you yesterday whether or not progress was taking place at least on the staff level. you said there were differing opinions. has the needle moved on that front? >> well, the movement of the needle was that yesterday the staff resumed conversations after a little hiatus over several days before that, so that is a progress in and of itself that they're talking, but there's no indication that those conversations ha
cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the...
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Dec 5, 2012
12/12
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WBAL
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both sides seem to be digging in their heels with no move to avoid the fiscal cliff. fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes not by raising rates own the wealthy as the president has demanded. >> we're not insisting on rates out of spite but rather because we need to raise a certain amount of revenue. >> we can't keep borrowing mown and raising taxes and expect the problem to go away. >> with no solution in sight the white house budget is now ordering the pentagon and other an an jencies to finalize their plan to avoid massive spending cuts. >> secretary of state clinton says nato's decision missiles to turkey sends a clear message that tour ski is backed by its allies. the big concern remains an increasely desperate assad regime will turn to chemical weapons as rebel fighting rages on. the u.s. and its partners are looking to apply additional pressure on at a conference next week. the regime insists they would not use weapons against its people. >> a natural gas tanker arrive
both sides seem to be digging in their heels with no move to avoid the fiscal cliff. fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes not by raising rates own the wealthy as the president has demanded. >> we're not insisting on rates out of spite but rather because we need to raise a certain amount of revenue. >> we can't keep borrowing mown and raising taxes and expect the problem to go away....
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Nov 30, 2012
11/12
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $6 billion in taxes? >> spending reductions and tax increases. the economy can't handle that. without a doubt, head into recession if we're over the cliff. lou: now, are you in agreement? >> i am, carl's absolely right, nevertheless, the markets have effectively been yawning. equity markets, go higher, corporate credit market improves, commodit prices rising, and the ten-year treasury yield is dipping to new lows. i can't figure this out. everybody seems to -- lou: i know -- >> they are in a mood, and that worries me. somebody has to be wrong, and big tim
cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not the case. it is, without a doubt, a cliff. it's $600 billion. the economy cannot withstand that shock. it's slowing in anticipation. lou: $6 billion...
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it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock. call 1-800-ishes for a prosctus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforter
it is because of the fiscal cliff, not because of the fiscal cliff, the fiscal clip could be play no role in this whatsoever. move on. fory's 30 mortgage rate rising to 3.34% and senator jim demint beating the senate to lead the heritage foundation. back in a moment. i ed to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their...
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Dec 4, 2012
12/12
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the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your
the fiscal cliff. two former governors will offer their perspective. plus, more on what bank of america's brian moynihan told becky this morning. more "squawk on the street" in just a moment. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your...
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Dec 4, 2012
12/12
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CSPAN
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i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military installations. 5 colleges and universities. 11 indian tribes. the best college football team in america. it is a very special place. i would argue with your statistics. i just won reelection with 68% of the vote. having said all that, the idea that the paul ryan budget is about getting rid of social programs is ntot so. it is about saving them. these programs are going bankrupt. all are going to have to be reformed. if the president gets every tax increase he is asking for, let's just assume that he did, it would not come close to solving the budgetar
i think that fiscal cliff is just a big red herring. your district has the shortest life span in the country for women. the infant mortalithighest infay rate in the country. we follow mississippi. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party -- come and look at your district. guest: i would be delighted to have people come and look at my district and then it is 14,000 farms and ranches with two military...
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Dec 4, 2012
12/12
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see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready for the tree lighting ceremony. expect it to take place about an hour from now. we'll take you there live. back in a moment. obligations. obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. music is a universa
see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready...
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Dec 6, 2012
12/12
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we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least.
we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of...
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Dec 7, 2012
12/12
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WTTG
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. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to avoid that fiscal cliff. >> reporter: yes, the president and malia obama with sasha and first lady michelle leading a chorus of santa claus is coming to town. >> one. >> reporter: the ceremony of music and lights as the national christmas tree comes to life. >> i'm so excited for christmas. i can feel christmas already now. >> reporter: but the holiday cheer, the spectacle of this illuminating tradition tempered by thoughts of the looming fiscal cliff. >> he's making us wait a little bit. >> reporter: this is 6-month- old evan nicolsky. his father neil works for the department of agriculture. >> w
. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the air needs to thaw if we're ever going to...
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Dec 6, 2012
12/12
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if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man less now rather than more later. it's a wimpy thing, it's logical, makes perfect economic sense. especially if you hold apple. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that arithmetic, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff, myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a comeback, the
if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man less now rather than more later. it's a wimpy thing, it's logical, makes...
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Dec 2, 2012
12/12
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. >>> 30 days and counting in the country's potential fall off the fiscal cliff. avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking for the whole entire time. >> in other words not quite a good place to be, but both sides agree that the government needs to raise more money. how much and how they do it are two of the major sticking points. >>> and protests and a constitutional crisis, what is next for egypt. we'll dig deeper into the struggle for power between conservative islamists and liberal secularists. and lat
. >>> 30 days and counting in the country's potential fall off the fiscal cliff. avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a...
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Nov 29, 2012
11/12
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CNNW
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lost it's favored credit rating. they say the economy's actually expanding, but they're still really worried about, you know, the fiscal cliff. >>> and now our fourth story "outfront" for the second day in a row, susan rice met with republican senators, some of whom obviously have harshly criticized her for ther handlin of the attack in benghazi. the moderate susan collins spoke to us. >> i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role at the height of a contentious presidential election campaign. >> yet the president continues to stand by susan rice. >> susan rice is extraordinary. couldn't be prouder of the job that she's done at the u.n. >> all right, tim, when you hear senator collins, you know, she is influential, she is moderate, come out and say look, i'm not satisfied, sort of turning her back on susan rice, she had the moment in front of the microphone to endorse, she did not. should the administration cut its losses and say this might not
lost it's favored credit rating. they say the economy's actually expanding, but they're still really worried about, you know, the fiscal cliff. >>> and now our fourth story "outfront" for the second day in a row, susan rice met with republican senators, some of whom obviously have harshly criticized her for ther handlin of the attack in benghazi. the moderate susan collins spoke to us. >> i continue to be troubled by the fact that the u.n. ambassador decided to play...
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Nov 30, 2012
11/12
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comment on the fiscal cliff. headline -- john boehner calling the white house's most recent offer not a serious proposal reiterating the fact that is he willing to put revenues on the table but not through a raise in the tax rates, by closing loopholes. he wants lower tax rates. reiterating the republican position there. harold ford jr., the former democratic congressman, also doug holtz-eakin is the former congressional budget office director. keith banks is here with us as well. harold, your reaction to what the house speaker says here? certainly doesn't seem, if you listen to either the president or the speaker, that we're any closer to a deal. >> i was encouraged by the speaker's remarks. he didn't put his foot down and say no adamantly or irretrievably to anything. whether asked specifically if rate increases were something he could support, he suggested that there were other means and other ways to achieve new revenue. a lot of ways i thought it was a measured response and we live to fight. those of us who
comment on the fiscal cliff. headline -- john boehner calling the white house's most recent offer not a serious proposal reiterating the fact that is he willing to put revenues on the table but not through a raise in the tax rates, by closing loopholes. he wants lower tax rates. reiterating the republican position there. harold ford jr., the former democratic congressman, also doug holtz-eakin is the former congressional budget office director. keith banks is here with us as well. harold, your...
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Dec 4, 2012
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. >> well, nobody wants anyone to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be seen playing footsie with barack obama under the table which is what they're going to have to do to get this deal done. the republican party is going tond up being blamed which is one of the reasons they will have to compromise more. it's the same thing the democrats did when bush won. you have to compromise with the party that just won. jason johnson, john brabender, thank you thank you both. >>> the new york film critics have made their choices for top films and many times they end up as oscar favorites. all the details next. all the details next. we are ga
. >> well, nobody wants anyone to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be...
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Dec 1, 2012
12/12
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. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does thing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> in other words, the day after the white house puts its opening bid on the table, the president comes out swinging. that opening bid didn't have a whole lot of concessions in it to the republicans, and the republicans reacted as many would have predicted. they were mad. basically saying that offer was an insult. today, house speaker john boehner doubled down. >> it was not a serious proposal. and so right now, we're almost nowhere. >> that doesn't sound good. republican congressman lee terry of nebraska was just as succinct but how shall i say this? more colorful. he told the "omaha world herald"
. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does thing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a scrooge...
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Dec 4, 2012
12/12
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i think the fiscal cliff is just a big red herring to get rid of the social programs. i have read this in the constitution. your district has the shortest life span in the country, the highest infant mortality rate for children, the highest per capita for people without health insurance, and we follow mississippi. they are ahead of us in that area. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party have taken the country, come and look at your district. >> guest: i would be delighted for people to look at my district. i think it's a great district. 14,000 farms and ranchers to tremendous military installations. you're right next to the field artillery. the colleges and universities, 11 indian tribes and about every ten years or so the best college team in america. it's a special place pitted i would argue with your statistics, but -- i do think i would reflect what people in my district think. i won the election with 68% of the vote and as you were kind enough to point out, i'm saying the
i think the fiscal cliff is just a big red herring to get rid of the social programs. i have read this in the constitution. your district has the shortest life span in the country, the highest infant mortality rate for children, the highest per capita for people without health insurance, and we follow mississippi. they are ahead of us in that area. i think that is where you are leading the country. if the people of the united states want to see where you and the republican party have taken the...
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Dec 6, 2012
12/12
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WUSA
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some economists actually call this the fiscal float instead of the cliff because the impact would be felt gradually. however, "the wall street journal" reports others sharply disagree. they argue that quickly undoing the damage double from the cliff dive would have big consequences. some possible ways here. it could prompt sell-offs on wall street. we've already seen those. it could also further dampen consumer confidence in washington. we saw that during the debate last year over raising the federal debt ceiling. >>> looking overseas, it's interesting to get a read on how other countries are perceiving the fiscal cliff fight on capitol hill. the"the washington post" ran through head lines in international papers. the gist of the coverage, china thinks the bickering in the u.s. is irresponsible. the people's daily says especially coming from a country that often tells other nations to be responsible. of course that's a big mouth piece for the communist party, that particular newspaper. heading across the pond to our friends in the uk, the financial times is blaming the g.o.p. for the
some economists actually call this the fiscal float instead of the cliff because the impact would be felt gradually. however, "the wall street journal" reports others sharply disagree. they argue that quickly undoing the damage double from the cliff dive would have big consequences. some possible ways here. it could prompt sell-offs on wall street. we've already seen those. it could also further dampen consumer confidence in washington. we saw that during the debate last year over...
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Dec 1, 2012
12/12
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but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on both sides you have liberals and conservatives, newt gingrich making the case this whole cliff thing was a creation of the other side. you have a group denying this central debate is really worth having right now. none of this feels we're inching towards a deal. >> looking backwards instead of forward. >>> for waterlogged californians this is the calm between the storm. much of the state has been battered by two storms that brought torrential rains, mudslides and flash flooding and storm number three is on its way. carter evans has the latest. >> reporter: as the powerful winter storm moved across the west nevad
but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on...
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Dec 7, 2012
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>> yeah. >> blake, if there is a deal to avoid the so-called fiscal cliff, could these jobs numbers get considerable better? >> i think so, but it's funny. the republicans are in a bit of a box here. their motivation is to say it's not so good. a lot of jobless people out there. we have a real problem. meanwhi meanwhile, we have fiscal cliff negotiations where the president wants stimulus mechanisms including an extension of unemployment insurance. they're like a doctor who diagnosed you with a severe ill sxns won't sign the precipitation to give you the medicine. they emphasize the joblessness problem, and they don't want to give you unemployment insurance and tell that to someone laid off sleeping in their car. >> with these jobs numbers, had hurricane sandy not struck how better would this report have been? >> a lot of this was construction job weakness. clearly, that will rebound. one of the unfortunate upsides of natural disaster is that you do, whether the states or federal governments do it or insurance companies, you have a lot of infrastructure spending as people rebuild from t
>> yeah. >> blake, if there is a deal to avoid the so-called fiscal cliff, could these jobs numbers get considerable better? >> i think so, but it's funny. the republicans are in a bit of a box here. their motivation is to say it's not so good. a lot of jobless people out there. we have a real problem. meanwhi meanwhile, we have fiscal cliff negotiations where the president wants stimulus mechanisms including an extension of unemployment insurance. they're like a doctor who...